{"id":"https://openalex.org/W84322355","doi":null,"title":"Factors Affecting Firms' Performance: The Case of Greece","display_name":"Factors Affecting Firms' Performance: The Case of Greece","publication_year":2010,"publication_date":"2010-04-01","ids":{"openalex":"https://openalex.org/W84322355","mag":"84322355"},"language":"en","primary_location":{"id":"mag:84322355","doi":null,"is_oa":false,"landing_page_url":"https://www.questia.com/library/journal/1G1-240915071/factors-affecting-firms-performance-the-case-of","pdf_url":null,"source":{"id":"https://openalex.org/S2764732466","display_name":"Global business and management research","issn_l":"1947-5667","issn":["1947-5667"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["anvur-scientific","cwts-core","norway-1"],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":null,"license_id":null,"version":null,"is_accepted":false,"is_published":false,"raw_source_name":"Global business and management research","raw_type":null},"volume":null,"type":"article","is_traditional":true,"indexed_in":[],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5080805423","display_name":"Panagiotis G. Liargovas","orcid":"https://orcid.org/0000-0002-2570-0156","observed_orcids":["https://orcid.org/0000-0002-2570-0156"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Panagiotis Liargovas","raw_affiliation_strings":[],"raw_orcid":"https://orcid.org/0000-0002-2570-0156","affiliations":[]},{"author_position":"last","author":{"id":"https://openalex.org/A5040759063","display_name":"Konstantinos S. Skandalis","orcid":"https://orcid.org/0009-0001-4711-7578","observed_orcids":["https://orcid.org/0009-0001-4711-7578"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Konstantinos S. Skandalis","raw_affiliation_strings":[],"raw_orcid":"https://orcid.org/0009-0001-4711-7578","affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":3.4424,"has_fulltext":false,"cited_by_count":54,"citation_normalized_percentile":{"value":0.92589261,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":88,"max":98},"biblio":{"volume":"2","issue":null,"first_page":"184","last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T12851","display_name":"Firm Innovation and Growth","score":0.7734000086784363,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T12851","display_name":"Firm Innovation and Growth","score":0.7734000086784363,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.09160000085830688,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12428","display_name":"Global Trade and Competitiveness","score":0.01810000091791153,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/firm-financial-performance","display_name":"firm financial performance","score":0.8109999895095825},{"id":"https://openalex.org/keywords/determinants-of-firm-performance","display_name":"firm performance determinants","score":0.8090000152587891},{"id":"https://openalex.org/keywords/financial-performance-measurement","display_name":"financial performance measurement","score":0.6499999761581421},{"id":"https://openalex.org/keywords/return-on-assets","display_name":"return on assets","score":0.671999990940094},{"id":"https://openalex.org/keywords/return-on-equity","display_name":"return on equity","score":0.8069999814033508},{"id":"https://openalex.org/keywords/operating-margin","display_name":"return on sales","score":0.7990000247955322},{"id":"https://openalex.org/keywords/debt-leverage","display_name":"debt leverage","score":0.7329999804496765},{"id":"https://openalex.org/keywords/liquidity","display_name":"liquidity","score":0.7059999704360962},{"id":"https://openalex.org/keywords/capitalization","display_name":"capitalization","score":0.6290000081062317},{"id":"https://openalex.org/keywords/investment","display_name":"investment","score":0.5299999713897705},{"id":"https://openalex.org/keywords/firm-size","display_name":"firm size","score":0.8790000081062317},{"id":"https://openalex.org/keywords/firm-age","display_name":"firm age","score":0.7990000247955322},{"id":"https://openalex.org/keywords/export-performance","display_name":"export performance","score":0.7459999918937683},{"id":"https://openalex.org/keywords/managerial-efficiency","display_name":"management efficiency","score":0.9430000185966492},{"id":"https://openalex.org/keywords/firm-location","display_name":"firm location","score":0.515999972820282},{"id":"https://openalex.org/keywords/greece","display_name":"Greece","score":0.4269999861717224},{"id":"https://openalex.org/keywords/international-competitiveness","display_name":"international competitiveness","score":0.42500001192092896},{"id":"https://openalex.org/keywords/globalization","display_name":"globalization","score":0.39100000262260437},{"id":"https://openalex.org/keywords/non-financial-determinants","display_name":"non-financial determinants","score":0.5389999747276306}],"concepts":[{"id":"https://openalex.org/C129361004","wikidata":"https://www.wikidata.org/wiki/Q2470236","display_name":"Profitability index","level":2,"score":0.7380614280700684},{"id":"https://openalex.org/C91306197","wikidata":"https://www.wikidata.org/wiki/Q45767","display_name":"Competition (biology)","level":2,"score":0.7087333798408508},{"id":"https://openalex.org/C182306322","wikidata":"https://www.wikidata.org/wiki/Q1779371","display_name":"Order (exchange)","level":2,"score":0.5626442432403564},{"id":"https://openalex.org/C40700","wikidata":"https://www.wikidata.org/wiki/Q1411783","display_name":"Industrial organization","level":1,"score":0.5562009215354919},{"id":"https://openalex.org/C2119116","wikidata":"https://www.wikidata.org/wiki/Q7181","display_name":"Globalization","level":2,"score":0.5543726682662964},{"id":"https://openalex.org/C2910001868","wikidata":"https://www.wikidata.org/wiki/Q458","display_name":"European union","level":2,"score":0.5460410714149475},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.4769127070903778},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.38495707511901855},{"id":"https://openalex.org/C18547055","wikidata":"https://www.wikidata.org/wiki/Q47417","display_name":"International economics","level":1,"score":0.34013062715530396},{"id":"https://openalex.org/C155202549","wikidata":"https://www.wikidata.org/wiki/Q178803","display_name":"International trade","level":1,"score":0.25586608052253723},{"id":"https://openalex.org/C34447519","wikidata":"https://www.wikidata.org/wiki/Q179522","display_name":"Market economy","level":1,"score":0.2521151304244995},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.1864931583404541},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0},{"id":"https://openalex.org/C18903297","wikidata":"https://www.wikidata.org/wiki/Q7150","display_name":"Ecology","level":1,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"mag:84322355","doi":null,"is_oa":false,"landing_page_url":"https://www.questia.com/library/journal/1G1-240915071/factors-affecting-firms-performance-the-case-of","pdf_url":null,"source":{"id":"https://openalex.org/S2764732466","display_name":"Global business and management research","issn_l":"1947-5667","issn":["1947-5667"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["anvur-scientific","cwts-core","norway-1"],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":null,"license_id":null,"version":null,"is_accepted":false,"is_published":false,"raw_source_name":"Global business and management research","raw_type":null}],"best_oa_location":null,"sustainable_development_goals":[{"id":"https://metadata.un.org/sdg/8","score":0.833299994468689,"display_name":"Decent work and economic growth"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":0,"referenced_works":[],"related_works":["https://openalex.org/W1553009941","https://openalex.org/W2086189239","https://openalex.org/W2089679314","https://openalex.org/W3032587130","https://openalex.org/W2182878857","https://openalex.org/W1494399889","https://openalex.org/W3122235774","https://openalex.org/W2048152696","https://openalex.org/W2970324300","https://openalex.org/W6884872827"],"abstract_inverted_index":{"Introduction":[0],"In":[1],"the":[2,36,39,43,50,61,96,115,125,157,188,199,203,211,236,241,246,249,293,380,391,403,416,426,454,465,476,517,528,539,571,588],"era":[3],"of":[4,16,38,45,57,63,98,127,159,173,183,190,206,216,266,296,311,316,330,359,376,382,393,405,415,419,425,467,495,538,574,578,591,595],"globalization,":[5],"competition":[6,67],"has":[7,120,272,305,399,562],"become":[8],"fiercer":[9],"than":[10],"ever.":[11],"Reduced":[12],"trade":[13],"barriers,":[14],"spread":[15],"technology":[17],"and":[18,23,42,60,70,141,165,228,239,248,260,269,289,362,384,432,447,458,534,551,555],"lower":[19],"costs":[20,594],"for":[21,84,299,371],"communication":[22],"transportation":[24],"have":[25,53,326,450],"sharpened":[26],"international":[27,134],"competition.":[28],"The":[29,133,171,192,214,374,545],"economic":[30,47],"changes":[31],"in":[32,49,68,103,187,344,516],"Eastern":[33],"European":[34,40],"countries,":[35,86],"completion":[37],"Union":[41],"appearance":[44],"new":[46,514],"powers":[48],"global":[51,69],"market":[52],"initiated":[54],"specific":[55,193,564],"discussion":[56],"production":[58,297],"structures":[59],"competitiveness":[62,126],"national":[64],"industries.":[65],"Intense":[66],"local":[71],"markets":[72,102],"requires":[73],"firms":[74,93,116,161,209],"to":[75,94,105,145,177,274,320,346,356,470,478,501,512,584],"improve":[76],"their":[77,99,107,372,505,532],"financial":[78,185,204,280,323,331,377,406,420,431,456],"performance.":[79,281,324,332,421],"This":[80,110],"is":[81,137,149,176,219,284,462,482,520],"especially":[82],"true":[83],"smaller":[85],"like":[87],"Greece":[88],"where":[89],"profitability":[90],"can":[91,526],"allow":[92],"overcome":[95],"limitations":[97],"small":[100],"home":[101],"order":[104],"achieve":[106],"maximum":[108],"potential.":[109],"improvement":[111],"not":[112,521],"only":[113],"benefits":[114,577],"themselves,":[117],"but":[118],"also":[119,509],"a":[121,131,180,225,314,341,394,480,563],"direct":[122],"impact":[123],"on":[124,286,292,336,350,364,453,504,531],"an":[128,230,353,413,451],"economy":[129],"as":[130,220,436],"whole.":[132],"business":[135,169,481],"literature":[136,226,428],"replete":[138],"with":[139,543],"empirical":[140,250,270,427],"conceptual":[142],"works":[143],"pertaining":[144],"competitiveness.":[146],"However,":[147],"there":[148],"still":[150],"debate":[151],"among":[152],"several":[153],"disciplines":[154],"regarding":[155],"how":[156,319,339,430],"performance":[158,186,205,446,457],"these":[160],"should":[162],"be":[163,492,510],"measured":[164,463],"what":[166,367],"factors":[167,200,277],"affect":[168,202],"success.":[170],"purpose":[172],"this":[174,217],"paper":[175,218],"empirically":[178],"implement":[179],"comprehensive":[181],"framework":[182],"firm":[184,561],"case":[189],"Greece.":[191],"research":[194,271,283,304],"question":[195],"is:":[196],"What":[197],"are":[198,379,387,488,499],"which":[201,479],"Greek":[207],"industrial":[208],"during":[210],"period":[212],"1997-2004?":[213],"structure":[215],"follows:":[221],"Section":[222,233,243],"2":[223],"provides":[224,245],"review":[227],"presents":[229,412],"analytical":[231],"framework.":[232],"3":[234],"discusses":[235],"data":[237],"used":[238],"describes":[240],"methodology.":[242],"4":[244],"estimation":[247],"results,":[251],"while":[252],"section":[253],"5":[254],"offers":[255],"some":[256],"conclusions.":[257],"Literature":[258],"Review":[259],"Analytical":[261],"Framework":[262],"A":[263,422],"large":[264],"body":[265],"previous":[267],"theoretical":[268],"tried":[273],"investigate":[275,318],"various":[276,328],"affecting":[278],"firms'":[279,322,455],"Theoretical":[282],"based":[285],"microeconomic":[287],"theory":[288,295,547],"more":[290],"specifically":[291],"firm's":[294],"(see":[298],"example":[300,334],"Penrose,":[301],"1995).":[302],"Empirical":[303],"been":[306,327,400],"developed":[307],"around":[308],"two":[309],"areas":[310],"interest.":[312],"First":[313],"number":[315],"researchers":[317],"measure":[321],"There":[325],"measures":[329,378,407,418],"For":[333],"return":[335,349,363,368,530],"sales":[337],"reveals":[338,366],"much":[340],"company":[342,398],"earns":[343],"relation":[345],"its":[347,360],"sales,":[348],"assets":[351,361],"determines":[352],"organization's":[354],"ability":[355],"make":[357,502,535],"use":[358,404,537],"equity":[365,471],"investors":[369],"take":[370],"investments.":[373],"advantages":[375,541],"easiness":[381],"calculation":[383],"that":[385,487,559],"definitions":[386],"agreed":[388],"worldwide.":[389],"Traditionally,":[390],"success":[392],"manufacturing":[395],"system":[396],"or":[397],"evaluated":[401],"by":[402,464,569],"(Tangen,":[408],"2003).":[409],"Table":[410],"1":[411],"overview":[414],"reviewed":[417],"second":[423],"strand":[424],"examines":[429],"non-financial":[433],"factors,":[434],"such":[435],"debt":[437,469],"leverage,":[438],"liquidity,":[439],"capitalization,":[440],"investment,":[441],"size,":[442],"age,":[443],"location,":[444],"export":[445],"managerial":[448],"efficiency":[449],"influence":[452],"growth.":[459],"Debt":[460],"leverage":[461,579],"ratio":[466,567],"total":[468],"(debt/equity":[472],"ratio).":[473],"It":[474],"shows":[475],"degree":[477],"utilizing":[483],"borrowed":[484],"money.":[485],"Companies":[486],"highly":[489],"leveraged":[490],"may":[491,508],"at":[493],"risk":[494],"bankruptcy":[496],"if":[497],"they":[498,507],"unable":[500,511],"payments":[503],"debt;":[506],"find":[513],"lenders":[515],"future.":[518],"Leverage":[519],"always":[522],"bad,":[523],"however;":[524],"it":[525],"increase":[527],"shareholders'":[529],"investment":[533],"good":[536],"tax":[540,581],"associated":[542],"borrowing.":[544],"trade-off":[546],"(TO)":[548],"(Bradley,":[549],"Jarrell":[550],"Kim,":[552],"1984;":[553],"Harris":[554],"Raviv,":[556],"1991)":[557],"suggests":[558],"every":[560],"optimal":[565],"debt-to-equity":[566],"determined":[568],"balancing":[570],"present":[572,589],"value":[573,590],"expected":[575,592],"marginal":[576,593],"(ex.":[580],"savings":[582],"due":[583],"paid":[585],"interests)":[586],"against":[587],"leverage.":[596],"\u2026":[597]},"counts_by_year":[{"year":2025,"cited_by_count":1},{"year":2024,"cited_by_count":3},{"year":2023,"cited_by_count":5},{"year":2022,"cited_by_count":6},{"year":2021,"cited_by_count":8},{"year":2020,"cited_by_count":7},{"year":2019,"cited_by_count":3},{"year":2018,"cited_by_count":1},{"year":2017,"cited_by_count":3},{"year":2016,"cited_by_count":3},{"year":2015,"cited_by_count":6},{"year":2014,"cited_by_count":3},{"year":2013,"cited_by_count":5}],"updated_date":"2026-11-08T12:12:28.789561","created_date":"2016-06-24T00:00:00"}